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The Government of the Republic of Serbia

In the service of citizens

Serbia protects its citizens from oil price increases

Belgrade/Washington, 16 April 2026

First Deputy Prime Minister and Minister of Finance Siniša Mali continued his working visit to Washington D.C., where he is participating in the Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group, with separate meetings with IMF Deputy Managing Director Bo Li and IMF Director of the European Department Alfred Kammer.

They discussed various measures that countries are taking to absorb the major shock of the energy crisis, and Mali emphasised that Serbia has not passed on the increase in oil prices to its citizens.

A very constructive meeting with th IMF Deputy Managing Director and the IMF Director of the European Department on the situation the whole world is in, which is related to this energy crisis. We discussed various measures that countries have taken to absorb this major shock. Some countries have passed on the entire increase in the price of crude oil to the end customer, that is, to the citizens, while the state of Serbia has not done so, Mali pointed out after the meeting.

The First Deputy Prime Minister emphasised that Serbia has shown itself to be ready for this shock and that it has therefore taken on the cost of reducing excise duties.

This had a much greater positive effect on the entire economy, given that such measures and such a reaction of the state, at least in Serbia, have influenced the maintenance of the quality of living standards, and on the other hand, further support for preventing inflation, the First Deputy Prime Minister said.

He pointed out that given that all possible models for how countries around the world should react are currently being considered if the crisis persists, the IMF’s proposal is for countries to react with more targeted measures towards those who are most vulnerable.

The IMF’s proposal is to react with measures towards those categories of the population that are most vulnerable to price increases, towards the poorest. And we will, of course, discuss this with the IMF in the coming weeks, he said.

Mali added that he discussed another important topic with Bo Li, which is our further investment in artificial intelligence.

This is considered a huge advantage and a huge opportunity for further accelerated development in the world, and Serbia has already taken significant steps towards this, Mali said.

The First Deputy Prime Minister will also address a reception at the Residence of the Republic of Serbia in Washington D.C. tonight, which will be dedicated to the promotion of Specialised Expo 2027, which Serbia will host.

Author: Ministry of Finance
Author: Ministry of Finance